OVERSEA CHINESE BANKING Corp Ltd Buys New Shares in The Allstate Corporation $ALL

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in The Allstate Corporation (NYSE:ALL) in the fourth quarter, HoldingsChannel.com reports. The firm bought 2,515 shares of the insurance provider’s stock, valued at approximately $523,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after acquiring an additional 85,468 shares during the last quarter. Boston Partners boosted its holdings in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after purchasing an additional 88,620 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Allstate by 18.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after purchasing an additional 401,700 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Allstate by 6.7% in the third quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock valued at $431,707,000 after purchasing an additional 126,401 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $216.71 on Friday. The stock has a market capitalization of $55.96 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of 0.43 and a beta of 0.22. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $219.48. The stock’s 50-day moving average price is $209.67 and its 200 day moving average price is $205.69. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.67 EPS. As a group, equities research analysts forecast that The Allstate Corporation will post 25.95 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 11.31%.

Analysts Set New Price Targets

ALL has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a report on Tuesday, March 3rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their target price on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $238.65.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.